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141 Seneca Street, Hornell, NY 14843
4,145 SF | Retail
Retail Property - Off Market
- Building Size:
- 4,145 SF
- Property Type:
- Property Sub-type:
- Vehicle Related
- Property Use Type:
- Cap Rate:
- Year Built:
- Lot Size:
- 0.22 AC
- Listing ID
- Last Updated
- over 1 year ago
Attractive Yield: 8.25 % Initial Return, with 1.6% increases in lease every year; 25-year Absolute NNN Lease: no Landlord responsibilities; Tenant pays all expenses; Prime location with significant potential for future appreciation; Highly recognized brand; Jiffy Lube International is a wholly owned subsidiary of Shell Oil Company; 10 Year Oil agreement with Shell Oil Company. This investment opportunity is located on Seneca Street, which is a major artery in the heart of Hornell, New York. The location is approximately a block from State Highway 36 and it is within close proximity to the intersection of State Highway 21 and State Highway 36. The general area is highly trafficked for retail, commercial and residential use.
The building is 4,145 square feet and it sits on .22 acres of land. Eureka Petroleum, Inc. (lessee) took over the property in March 2003 and is slated for significant renovation in year 2003-2004. The property will be updated with all the newest Jiffy Lube equipment. The property is being sold subject to an absolute NNN lease, leaving the future buyer with no financial responsibilities.
Nestled in the Canisteo Valley, surrounded by tree covered hillsides, The City of Hornell offers a unique balance of rural beauty and a thriving business community. Located in the southwestern portion of Steuben County, known as the Southern Tier, Hornell's population is just under 10,000.
Hornell is situated at the intersection of Route 21 and 36, and Exit 34 of the Southern Tier Expressway (I-86). The city is in close proximity to some of the largest cities in New York State: 60 miles from Rochester, 40 miles from Corning and 93 miles from Buffalo.
Also nearby are a number of tourist attractions including the Finger Lakes Wineries, (art centers Corning, Rochester, ) and educational facilities, including Alfred University and Alfred State College, SUNY-Geneseo and Corning Community College.
Map of 141 Seneca Street, Hornell, NY 14843
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The information above has
been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified
it and make no guarantee, warranty or representation about it. It is your responsibility to independently
confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are
for example only and do not represent the current or future performance of the property. The value of
this transaction to you depends on tax and other factors which should be evaluated by your tax, financial,
and legal advisors. You and your advisors should conduct a careful, independent investigation of the
property to determine to your satisfaction the suitability of the property for your needs. TB-P